Income Tax Department has introduced New ITR Forms for Financial year 2016-17.
Main Objective behind introducing these changes :
Changes made in the new ITR Forms-
New ITR Forms:
Mandatory quoting of Aadhar No. in all ITR Forms:
Disclosure of cash deposits during demonetization:
To report on cash deposited by taxpayers in their bank accounts during the demonetization period, i.e., from November 9, 2016 to December 30, 2016, new columns are added in all ITR Forms However, taxpayer also required to fill up this column only if they have deposited Rs 2 Lakh or more during the demonetization period.
Specific Changes in ITR 1:
Specific Changes in new ITR 2, 3, 4:
Specific Changes in new ITR 4 (old ITR 4S):
This article was first published on Tax2Win.in